I recently bought a medical marijuana stock at its lowest point. It is estimated that it will reach a high price by 2023.
How can I know for sure when to sell out?
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The short answer is that it is impossible to KNOW when the best time is to sell a stock.
There are a number of reasons to sell a stock:
Here's a crazy example for Tilray, another marijuana stock. Last year it went from about $60 to $150+ in two weeks. I would have booked that profit in a heartbeat and I wouldn't have shed many tears because it went to $300 the next day. Why? Because to me, a bird in the hand (a realized 150% gain) is worth more than the risk of loss of such a large gain (two days later it was under $100). Tilray is now a $19 stock. Make your decisions. Live with them. Avoid 'woulda, coulda, shoulda".